** Shares of electric utility Exelon EXC.O down 1.3% premarket to $46.50 as it seeks capital

** Chicago, Illinois-based EXC announces private offering of $900 mln convertible bonds due 2029

** Co plans to use net offering proceeds to repay or refinance debt, or for general corp purposes

** EXC has roughly $48 bln market cap

** Last month, EXC beat analysts' Q3 earnings estimates on higher electricity rates and lower storm recovery costs

** EXC shares on Fri rose 1.2%, extending YTD gain to ~25% and outpacing 19% gain in the S&P 500 Utilities index .SPLRCU

** Of 20 analysts covering EXC, recommendation breakdown is 8 "strong buy" or "buy", 10 "hold" and 2 "sell" ratings; their median PT is $50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))